Currency pair New Zealand Dollar to US Dollar NZD/USD is trading at 0.6854. The pair continues to trade below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a downtrend in the New Zealand Dollar to US Dollar. The pair is expected to grow near the level of 0.6890, from which it is expected to attempt a fall and develop a bearish trend for the pair with a view to lower near the level of 0.6800.
Technical analysis & forecast NZD/USD on May 16, 2017
Earlier, a strong signal was received for the sale of the currency pair New Zealand Dollar to US Dollar, due to the crossing of the signal lines at 0.6882. The cancellation of the fall of the pair’s quotations will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above the area of 0.6920, which will indicate a change in the downtrend in favor of the bullish trend. Expect to accelerate the fall in quotes NZD/USD stands with the breakdown of the local minimum area at 0.6800.
